$ 160.34 million in expected sales for CoreSite Realty Co. (NYSE: COR) this quarter
Wall Street analysts expect CoreSite Realty Co. (NYSE: COR) to report sales of $ 160.34 million for the current fiscal quarter, according to Zack. Seven analysts provided revenue estimates for CoreSite Realty, with estimates ranging from $ 159.21 million to $ 163.41 million. CoreSite Realty recorded sales of $ 150.54 million in the same quarter of last year, which would indicate a positive year-over-year growth rate of 6.5%. The company is expected to announce its next quarterly earnings report on Thursday, July 29.
According to Zacks, analysts expect CoreSite Realty to report annual sales of $ 648.74 million for the current year, with estimates ranging from $ 645.10 million to $ 653.65 million. For the next year, analysts predict the company will post sales of $ 695.78 million, with estimates ranging from $ 687.00 million to $ 706.33 million. Zacks Investment Research’s sales calculations are an average based on a survey of research companies that track CoreSite Realty.
CoreSite Realty (NYSE: COR) last reported quarterly results on Thursday, April 29. The REIT reported earnings per share of $ 0.51 for the quarter, missing the consensus estimate of $ 1.33 of ($ 0.82). CoreSite Realty had a net margin of 13.50% and a return on equity of 93.72%. The company posted revenue of $ 157.60 million for the quarter, against analysts’ expectations of $ 156.63 million. In the same quarter of the previous year, the company posted earnings per share of $ 1.29. The company’s turnover increased by 6.9% compared to the same quarter last year.
Several research analysts recently commented on COR stocks. Robert W. Baird reiterated a “hold” note on CoreSite Realty shares in a report released Thursday, May 6. Mizuho raised his price target on CoreSite Realty shares from $ 120.00 to $ 130.00 and rated the company “neutral” in a report released on Wednesday, April 21. Credit Suisse Group increased its target price on CoreSite Realty shares from $ 156.00 to $ 157.00 and gave the share an “outperformance” rating in a Friday April 30 research note. Evercore ISI assumed coverage of CoreSite Realty shares in a report released on Friday, March 12. They set an “online” rating and a price target of $ 130.00 for the stock. Finally, Barclays raised its price target on CoreSite Realty from $ 113.00 to $ 116.00 and gave the stock an “underweight” rating in a research report published on Tuesday, April 27. Two research analysts rated the stock with a sell rating, five assigned a conservation rating, and four gave the company a buy rating. The stock has an average rating of “Hold” and a target consensus price of $ 133.44.
NYSE COR opened at $ 125.91 on Friday. The company has a fifty-day moving average price of $ 121.42. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt ratio of 35.58. The company has a market cap of $ 5.41 billion, a P / E ratio of 63.27, a P / E / G ratio of 1.09 and a beta of 0.23. CoreSite Realty has a one-year low of $ 107.23 and a one-year high of $ 141.50.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 15. Investors of record on Wednesday, June 30 will receive a dividend of $ 1.27. This is an increase from CoreSite Realty’s previous quarterly dividend of $ 1.23. The ex-dividend date for this dividend is Tuesday, June 29. This represents an annualized dividend of $ 5.08 and a return of 4.03%. CoreSite Realty’s payout ratio is currently 92.66%.
In other CoreSite Realty news, CFO Jeffrey S. Finnin sold 4,000 shares of the company in a trade on Monday, May 3. The stock was sold for an average price of $ 121.73, for a total value of $ 486,920.00. Following the completion of the transaction, the Chief Financial Officer now directly owns 70,516 shares of the Company, valued at approximately $ 8,583,912.68. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Executive Vice President Juan Font sold 400 shares of the company in a trade on Monday, May 24. The stock was sold for an average price of $ 120.50, for a total value of $ 48,200.00. Following the sale, the Senior Vice President now owns 31,158 shares of the company, valued at approximately $ 3,754,539. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 26,555 shares of the company valued at $ 3,134,919. 1.40% of the capital is held by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of COR. CWM LLC strengthened its position in shares of CoreSite Realty by 98.1% in the fourth quarter. CWM LLC now owns 212 real estate investment trust shares worth $ 27,000 after acquiring 105 additional shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of CoreSite Realty by 72.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 234 real estate investment trust shares worth $ 29,000 after purchasing an additional 98 shares in the last quarter. Meeder Asset Management Inc. increased its equity holdings of CoreSite Realty by 50.0% during the 4th quarter. Meeder Asset Management Inc. now owns 306 real estate investment trust shares valued at $ 38,000 after purchasing 102 additional shares during the last quarter. Graves Light Private Wealth Management Inc. purchased a new position in shares of CoreSite Realty in the 4th quarter valued at $ 40,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in CoreSite Realty in the first quarter valued at $ 40,000. 92.36% of the shares are held by institutional investors.
CoreSite Realty Company Profile
CoreSite Realty Corporation (NYSE: COR) provides secure, reliable and high performance data center, cloud access and interconnection solutions to a growing customer ecosystem in eight key North American markets. More than 1,375 of the world’s largest enterprises, network operators, cloud providers and support service providers choose CoreSite to connect, protect and optimize their performance-sensitive IT data, applications and workloads.
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